Member Newsletter

Unprecedented growth in public trading volume and increased operating efficiencies have led NFA to reduce its assessment fee to an all-time low level-from $.14 to $.12 per round-turn futures contract and $.07 to $.06 per options transaction. The decrease is the second such reduction in 6 months, resulting in a 33 percent total decrease since July 2001. Assessment fee levels for mini-contracts will remain at $.04 per round-turn futures contract and $.02 per options transaction.

NFA's Board of Directors approved the reduction at its November 15, 2001, meeting in New York. The new fee schedule becomes effective on January 1, 2002.

The assessment fee reduction also reflects the fact that NFA's operations are becoming increasingly more efficient, and as a result, revenue generated from the fee has become less of a necessity. With quicker and less expensive new programs such as electronic Member registration, electronic arbitration, and a new system called WinJammer 4.0 that will allow firms to transmit their financial statements electronically, NFA's operating costs have been reduced dramatically.